The increasing vegan population is driving the growing potato protein market, according to a new report.
The market – which is currently estimated to be valued at $72.2 million – is projected to reach $88.2 million by 2022, at a Compound Annual Growth Rate of 4.1 percent during the forecast period.
Additional growth factors include an increase in consumer concerns regarding food allergens in products and the high nutritional profile of potato proteins.
According to the report: “Europe accounted for the largest share of the potato protein market.
“The dominant share of this region is attributed to the presence of most potato protein manufacturers in the region, resulting in the highest production as well as consumption.
“The Asia Pacific market is projected to be the fastest-growing from 2017 to 2022 and is driven by growing consumer awareness in this region about food allergens in products.”
Restraint factors in the growth of this market include high costs of production.